LOG.P:CC - Logica Ventures Corp. Announces Issuance of Common Shares
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH US NEWSWIRE SERVICES
TORONTO, June 13, 2022 (GLOBE NEWSWIRE) -- Logica Ventures Corp. (“ Logica ” or the “ Corporation ”) (TSXV: LOG.P) announces that in connection with the election of Ryan Roebuck as chief executive officer and director of the Corporation, Dylan Pillay as chief financial officer of the Corporation and Clayton Fisher as director of the Corporation (collectively, the “ New Management ”) at the Corporation’s annual and special meeting of shareholders held on April 7, 2022, the Corporation issued an aggregate of 150,000 common shares of Corporation (“ Common Shares ”) to the New Management at $0.10 per Common Share for aggregate gross proceeds of $15,000 (the “ Offering ”) in compliance with the Policy 2.4 of TSX Venture Exchange (" TSXV ”).
Proceeds of the Offering will be used for general corporate and working capital purposes. Insiders subscribed for all of the Common Shares in the Offering. The private placement of Common Shares to insiders is exempt from the formal valuation and minority approval requirements of MI 61-101 and TSXV Policy 5.9 by the application of sections 5.5(a) and (b) and 5.7(1)(a) of MI 61-101.
The securities issued pursuant to the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “ U.S. Securities Act ”), or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the risks set out in the Corporation’s public documents filed on SEDAR. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
For further information please contact:
Logica Ventures Corp.
Munaf Ali, Director
Telephone: 416-831-3598
Email: ir@logicaventures.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.